Chesapeake Utilities said Chief Financial Officer Beth Cooper will retire June 30 after 36 years with the company, and Chief Operating Officer Jeff Sylvester will take over as CFO on July 1.
Cooper joined Chesapeake in 1990 and became CFO in September 2008, giving her nearly 18 years in the role by the time she steps down. Sylvester first joined Chesapeake in 2004, left for a stint at Black Hills Energy, and returned in 2019. He was named COO in 2022 and will move from overseeing company operations, customer care, project development and safety into the finance chief role.
The succession marks a change for a company that has leaned heavily on long-tenured leadership. Cooper’s career at Chesapeake spanned 36 years, including work in financial and strategic planning before she became CFO. Sylvester’s Chesapeake career has totaled about 15 years across two separate stretches.
Chesapeake said Sylvester has also brought experience in acquisitions, integrations and large-scale transformations, adding another operationally focused executive to the finance seat as the company prepares for its next phase of growth. Today the company's shares have moved -1.03% to a price of $124.60. For more information, read the company's full 8-K submission here.
